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Planning to come to Budapest? Here are 8 tourist traps you should avoid

Budapest tourist traps

Budapest is without a shadow of a doubt one of the most vivid, colourful and relaxing cities in Europe providing an excellent travel experience for all age groups. However, as in all tourist destinations, there are some tourist traps you should avoid so that nothing can overshadow your stay in this magnificent and cosy city.

Budapest Airport shuttle: cheap and comfortable

Gamintraveler regularly writes about Hungary from the most famous Hungarian dishes to the tourist traps you should avoid to take home the best experience possible in our beautiful capital.

Ruben Arribas’ article draws attention to probably the most important issue after your plane lands at Budapest Airport. You do not have to pay lots of money to taxi drivers to get to the downtown. You may choose airport shuttle 100E for less than EUR 5.50. In 50-60 minutes – depending on traffic -, you will get to the 5th district. Furthermore, since October, buses on the line have been commuting more frequently. We covered that in THIS article.

Budapest airport shuttle tourist traps
Budapest Airport shuttle 100E at Deák Ferenc Square in the heart of the city. Photo: FB/BKK

Fancy but overpriced

First, the author mentions Váci Street, Budapest’s expensive but chic shopping street where you can buy overpriced meals and souvenirs. If you want to get something valuable to help you become nostalgic about your stay here, you should choose instead the Great Market Hall of Budapest at the less fancy (Southern) end of Váci Street. Moreover, you can taste some traditional Hungarian dishes, too.

The same goes for souvenir shops around Budapest’s landmark tourist hotspot, the Chain Bridge. You may visit instead some small store in the Jewish Quarter (7th district) or near the Gellért Hill (11th district). Getting there is easy since Budapest’s public transport system is one of the world’s best.

If you want to discover the city’s beauties on board a Danube boat, you should choose a reputable company. Do not let some street vendors talk you into something you do not want. There are plenty of options from the spectacular floating buses to the amazing view our bridges provide on the city.

City bus, Budapest, tours, Danube tourist traps
Pixabay

Budapest tourist traps: baths, boats, taxis

Budapest is also the capital of refreshing and rejuvenating thermal water with historic baths, but the author does not recommend the ones that have become symbols of Budapest (Széchenyi, Gellért). Instead, he recommends visiting less touristy baths like the Rudas and Lukács Baths. You may read about all of them HERE. It’s important to add that there are some exquisite baths even outside Budapest, like Egerszalók, which has been chosen as one of the world’s best.

Rudas Bath tourist traps
The breathtaking view from the Rudas Bath in Budapest. Photo: FB/Rudas

The fifth tourist trap is the issue of overpriced restaurants. That is a common thing in most popular cities, but it can be shocking in Hungary. But you may avoid that by not eating or drinking in the Buda Castle or the 5th district, and instead trying the eateries in the Jewish Quarter (outer 6th and 7th district), or the famous Ráday Street, full of traditional Hungarian restaurants with original flavours and dishes.

Taxi drivers can be annoying in many cities, and Budapest is not better or worse than others. Here are some tips on how to evade problems:

  1. Choose a reputable taxi company or apps like Bolt or Uber, which is back in Budapest;
  2. Check that the meter is running;
  3. Do not forget to ask for a receipt.

That is how you can avoid being charged EUR 111 for a 2-minute ride like an Irish tourist was in January. Check out her story in THIS article.

Money and pubs

The last but one piece of advice is not to change your money just anywhere but to search for a proper bank’s ATM. Believe us, your time spent on that activity will be worth it. Before coming to Hungary, you should study the local currency: HUF 20,000 is our biggest denomination, which is worth EUR 50. Do not believe if somebody tries to convince you of something else.

Finally, try our ruin pubs, but avoid crowded, overpriced or touristy ones. Instead, you may sit down for a drink in the Instant-Fogas, Anker’t, or Mazel Tov.

Instant Budapest beaten tourist traps
One of Budapest’s famous pubs. Source: FB/instant.fogas.budapest

+1 MOL Bubi bike share program

If you want to discover as many secrets of Budapest as possible during your stay, you should try our bike-share program. A monthly pass costs less than EUR 3, and you can ride almost everywhere in the city’s downtown and beyond. Additionally, it is healthier than any other option.

Budapest Mol Bubi bike tourist traps
Photo: FB/molbubi

Enjoy your stay in our wonderful capital!

Read also:

  • Budapest is among the 10 most popular European city breaks for 2024 – read more HERE
  • Budapest revealed as the seventh-biggest tourist hotspot in Europe

Featured image: depositphotos.com

It’s worth buying property in Hungary: you may even become an EU citizen!

Spontaneous euroisation Budapest rent prices property market prices exceeded property in hungary renting in Hungary news rental

Investing your money in property in Hungary is a safe way to protect the value of your money while it has some additional benefits. For example, property prices in the country increase with the rental prices and there is a housing crisis mainly in Budapest. Hungarian property is cheaper than in a lot of other EU member states. And finally, if you buy Hungarian real estate, you may become eligible to get a Hungary Golden Visa, which enables you to stay in Hungary and move in the European Union freely for 10+10 years.

Property in Hungary is relatively cheap generating high income

The Edinburgh Reporter collected several benefits of buying an apartment or house in Hungary. What is bad news for Hungarians is good news for foreign investors. Hungarian average wages make buying property more and more challenging for employees, especially young people. As a result, many leave Hungary to work in the West and collect enough money to get an apartment here.

From the perspective of those living in Western European countries, however, property in Hungary is not that expensive. Real estate prices in Milan are 37% higher, but Berlin (26%) and Prague (25%) also precede our capital. Meanwhile, rental prices in Hungary grew by 165% between 2013 and 2023 and the trend continues. As a result, rental yields are higher (5.09%) than the EU average. Finally, if you buy real estate in Hungary for more than EUR 500,000, you and your family (spouses, children under 18, and later, dependent parents) can get a Hungary Golden Visa enabling you to live here and travel in the European Union for 10+10 years. That may lead to citizenship in the EU.

New Hungarian Golden Visa program property in Hungary
Source: depositphotos.com

Prices and taxes

Prices vary between regions, cities and even inside Budapest. One sqm in the most expensive districts (1st, 2nd, 5th, 12th) can reach EUR 5,500. But the average in Budapest is “only” EUR 2,360. In Debrecen, Győr or Hévíz near Lake Balaton, the investment amount you need is even lower.

Regarding resale property in Hungary, the price is just EUR 2,200 in Budapest.

Of course, you may pay approximately 10% more because you must pay the stamp duty (4% of the price if below EUR 2.6 million, 2% if above) and some other administrative fees listed in the article.

property in budapest investment
The downtown of Budapest. One of the best places to invest your money. Photo: Daily News Hungary – Alpár Kató

If you are under 35, you may get a 2% reduced tax rate but only to the portion over HUF 15 million (EUR 37,400). Finding a house or apartment below HUF 15 million is hard in Hungary but not impossible in the rural areas, especially in small settlements.

Getting a Hungary Golden Visa simplified

Foreigners can buy property in Hungary except for agricultural lands and heritage assets. However, you must obtain permission from the Land Registry in the district where the property is located. You should know that some local governments do not grant that to foreigners.

However, if you are a Hungarian citizen, a citizen of EU countries, Norway, Liechtenstein, Iceland, Switzerland, or a foreign citizen inheriting property, you do not need such permission.

real estate property in budapest rental market home prices
The Liberty Bridge, the Fővám Square and the Kálvin Square in Budapest. Photo: FB/ZoltanGaborPhotography

Finally, as a buyer, you must obtain an up-to-date energy performance certificate for the property.

An additional tip is to hire a Hungarian legal company to navigate you through the process.

If you only want a golden visa but do not have EUR 500,000, you can purchase real estate funds for EUR 250,000. If you have more money and do not want to buy property, you may donate EUR 1 million to an approved institution of higher education in Hungary.

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Featured image: depositphotos.com

Ambitious: Hungarian railway company MÁV embarks on a massive EUR 2 billion railway development

MÁV, KISS, Nyugati, train, Hungary

Next year, significant railway track renovations are set to begin across Hungary, aiming to reduce delays and improve service reliability for the Hungarian State Railways (MÁV). According to MÁV Group CEO Zsolt Hegyi, the summer season on the Balaton line saw considerable disruptions, prompting the company to revamp schedules for the 2025 peak season to mitigate similar issues.

Punctuality is a major challenge for MÁV

akiem máv modern trains in Hungary
An Eurostart arriving at Keleti Station. Photo: Wikimedia Commons

The punctuality of trains has been one of the major challenges for MÁV. Despite some improvements, recent data from September shows that only 75% of trains arrived on time, far short of the 90% target. This has led to frustration among passengers, with many associating MÁV with delays. As Hegyi noted in InfoRádió, such delays tarnish the company’s reputation, as they suggest the service provider is failing to meet expectations. To combat this, MÁV has begun analysing data to pinpoint where interventions are most needed to improve adherence to schedules.

In addition to schedule adjustments, track and infrastructure upgrades are essential. Hungary’s railway network spans approximately 7,000 kilometres, with nearly all routes requiring ongoing modernisation. Over the past 15 years, several suburban lines around Budapest have been upgraded, primarily funded by the European Union, with significant refurbishments on some long-distance routes as well.

Major, EUR 2 billion modernisation project

trains budapest vienna flood
Photo: FB/MÁV

Looking ahead, a EUR 2 billion railway development program will unfold over the next five years. This ambitious project will be funded equally by a EUR 1 billion loan from the European Investment Bank (EIB) and another EUR 1 billion from the national budget. Alongside major renovations, several lines will undergo maintenance work to ensure the continued safety and efficiency of services. Hegyi emphasised that while not every line needs to be rebuilt from scratch, regular maintenance is crucial to keep the system functioning smoothly.

The company is still negotiating the loan with the EIB, but if all goes as planned, the first projects will begin in the summer of 2025. Initial renovations will target 15 key lines, with notable projects including upgrades to the Cegléd–Szeged railway between Kiskunfélegyháza and Szeged, the Székesfehérvár–Boba line that cuts through the Bakony mountains, improvements at the Szolnok station to speed up train throughput, and the reconstruction of the Gubacsi Bridge to facilitate freight transport.

Balaton routes especially affected

lake balaton máv budapest train travel
Source: mavcsoport.hu

Hegyi highlighted that delays were particularly troublesome during the summer months, especially along the Balaton routes, which suffered from an influx of passengers. In fact, the demand for train travel to Lake Balaton reached unprecedented levels this year, largely due to the introduction of nationwide and regional travel passes, as well as a fare reform. Over 2.5 million people travelled to the popular holiday destination by train this summer alone. However, these routes, many of which are single-track, are especially vulnerable to cascading delays when issues arise.

Reflecting on the summer’s challenges, Hegyi acknowledged that timetable adjustments would be necessary. Many trains were unable to depart on time because of the extended boarding and alighting times caused by the large number of passengers. These operational challenges will be carefully considered in planning next year’s schedule to better accommodate the high volume of travellers during peak periods.

MÁV’s goal remains to enhance service reliability and restore passenger confidence, ensuring that future summers, especially on heavily trafficked lines like those to Balaton, run more smoothly with fewer delays. The upcoming development and maintenance projects are expected to play a critical role in achieving these improvements.

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Hungarian central bank launches new 200-forint coin alongside commemorative coins – PHOTOS

New forint coin will appear in Hungary

The National Bank of Hungary (Magyar Nemzeti Bank, MNB) has announced the release of new commemorative coins, including a redesigned version of the circulating 200-forint coin. Two other commemorative coins with face values of HUF 30,000 (EUR 75) and HUF 7,500 (EUR 19) will also be introduced, each honouring the martyrs of Arad.

Commemorative coins honouring the martyrs of Arad

On 6 October, which marks the memorial day of the martyrs of Arad, the MNB will issue a large, 30,000-forint silver coin with a 13-sided inner rim, along with a 7,500-forint version made from non-ferrous metals, Világgazdaság reports. These coins are being released to commemorate the 175th anniversary of the execution of the martyrs who sacrificed their lives for Hungarian independence.

In addition to the commemorative coins, a special edition of the 200-forint coin will also be issued in honour of Lajos Batthyány, Hungary’s first constitutional prime minister. One million copies of this unique 200-forint coin will be put into circulation, while the silver commemorative coins will be produced in a limited run of 6,000 pieces, and the non-ferrous metal versions in 8,000 pieces. The commemorative designs were created by coin artist István Kósa, while sculptor Zoltán Kovács crafted the redesigned side of the 200-forint coin.

175 years ago, on 6 October 1849, 13 Hungarian military officers were executed in Arad due to their role in the 1848-1849 War of Independence. In remembrance of the 175th anniversary of their execution, as well as that of Lajos Batthyány, MNB will issue a commemorative edition of the 200-forint coin, a large, 30,000-forint silver coin with a 13-sided inner rim, and a 7,500-forint non-ferrous variant will also be introduced on this national day of mourning.

200-forint coins to look different

The commemorative version of the 200-forint coin will retain the same face side as the current coin in circulation, but instead of the familiar Chain Bridge design, the reverse will feature a portrait of Count Lajos Batthyány (see above). This image, based on Miklós Barabás’ famous oil painting, extends to the coin’s edge. Below the portrait, you’ll find the year of minting, “2024”, on the left side, with “BATTHYÁNY” inscribed above, and “MAGYARORSZÁG” on the right.

One million copies of the commemorative 200-forint coin will be minted.

“Lajos Batthyány and the 13 Martyrs of Arad” commemorative coin

To honour the significance of this anniversary, the MNB will also release commemorative coins named “Lajos Batthyány and the 13 Martyrs of Arad” with face values of 30,000 forints in silver and 7,500 forints in non-ferrous. These coins are intended to serve as a tribute to the martyrs who fought for Hungary’s independence and self-determination. They will not be put into circulation. The designs of the silver and non-ferrous versions are identical, differing only in face value.

Both sides of the “Lajos Batthyány and the 13 Martyrs of Arad” coins feature a 13-sided inner rim, symbolising the reason for their release. The obverse side displays a half-length portrait of Lajos Batthyány, based on Miklós Barabás’ painting. To the left is the inscription “MAGYARORSZÁG” (Hungary), while on the right, in three lines, are the face values “30000” and “7500”, the word “FORINT”, and the mint mark “BP.” Below the portrait is Batthyány’s signature, inscribed vertically.

On the reverse side, a stylised representation of a kopjafa (a Hungarian memorial column) appears on the left, with the date “1849” inscribed at the top to mark the year of the martyrs’ execution (see above). Below this are the names of the 13 martyrs, listed in two columns, and at the bottom, the minting year “2024”. To the right, a part of the Arad Liberty Statue, created by sculptor György Zala, is depicted. At the top right of the reverse is the inscription “ARADI VÉRTANÚK” (Martyrs of Arad), and the designer’s signature, István Kósa, appears at the bottom.

As with previous releases, these coins will be produced in limited quantities: 6,000 silver coins and 8,000 non-ferrous coins.

To ensure the wide distribution and appreciation of these commemorative pieces, the 30,000-forint silver coin will be available for its face value for three months following its release, while the non-ferrous version will be available for one year, starting on 7 October 2024. The coins can be purchased at the Hungarian Mint’s shop (7 Báthory Street, District V., Budapest) or through their online store.

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Good news for drivers concerning Hungarian fuel prices

Fuel prices in Hungary

Fuel prices in Hungary were under the average in neighbouring countries in the month of September, data compiled from the EU Weekly Oil Bulletin by the Central Statistics Office (KSH) show, the National Economy Ministry said on Friday.

The price of petrol in Hungary averaged 585/litre (EUR 1.5) during the month, HUF 2 under the average in neighbouring countries. The price of diesel stood at HUF 592/litre, HUF 1 under the average in neighbouring countries.

Hungary’s government earlier said it would intervene if motor fuel prices exceeded the average in neighbouring countries.

Read also:

  • Brand-new Spanish trams come to Budapest, public bike system to be renewed, extended – read more HERE

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Apple charges Hungarian users again without warning as payment issue resurfaces

apple mistakenly withdraws funds

According to a statement from the Hungarian National Bank (MNB), new reports have surfaced about recurring payment issues related to Apple. Some users have experienced multiple deductions from their bank accounts, with one case involving 13 separate charges.

Back in June, a major scandal broke out involving Apple mistakenly withdrawing funds from Hungarian users’ bank accounts, likely due to an error in the Hungarian App Store. One Index reader reported that HUF 550,000 (EUR 1,370) was deducted in 74 transactions over just five minutes, after which their bank blocked their card. These issues generally involved charges related to old Apple subscriptions or purchases made through Apple Pay, which were mistakenly processed again.

Apple mistakenly withdraws funds again

apple mistakenly withdraws funds
Photo: depositphotos.com

Apple was informed about the problem but delayed sending the list of affected transactions to the card companies. Until then, it was unclear whether Apple or the banks would be responsible for cancelling the erroneous charges and refunding the users. The card companies eventually forwarded the data to the banks, which began the process of returning the funds.

The Hungarian National Bank monitored the situation closely, urging local financial institutions to compensate affected users as quickly as possible. By the first week of July, the majority of victims had their funds returned, with the total sum reaching an estimated HUF 2 billion (roughly EUR 5 million). This incident also drew more attention to cybersecurity threats and how they are handled. However, it seems another Apple-related issue is emerging, as the company has once again started charging users without notice.

A reader of Index reported noticing numerous unauthorised transactions overnight: “I was charged 13 times, starting at 1:37 AM, with deductions happening every 1-2 minutes. I contacted Apple’s Hungarian support this [Tuesday] morning, but they were only made aware of the problem today. They couldn’t provide any information and just told me to check back in a day or two,” the reader said.

In response, the Hungarian National Bank issued a statement, saying both the MNB and the Hungarian Banking Association are taking steps to safeguard customers and ensure the stability of financial markets. As soon as the Hungarian National Bank was informed of the recurring payment problems with Apple, it immediately contacted payment service providers and initiated measures to protect customers.

The MNB is working closely with the Hungarian Banking Association to resolve the issue, the statement said. They also noted that, as a result of the previous incident in June, banks are now better prepared for these kinds of situations and responded promptly. According to early, unconfirmed data, fewer users have been affected this time. The MNB assured the public that they would continue to provide updates on the matter.

Foreign users are affected too

The Hungarian Banking Association also issued a statement, highlighting that on the night of 30 September, a technical error in the Apple Store caused the duplication of pending charges that had not yet been processed. In some cases, Apple initiated double billing for subscription fees.

This technical issue has impacted cardholders in about 20 countries.

Hungarian users affected by this may temporarily see duplicate charges for ongoing subscriptions that have not yet been settled, but the actual payment has not been processed twice.

The statement further explained that Hungarian banks, drawing on their experience from the summer incident, are working closely with the MNB to monitor the transactions and ensure that no double charges are made on users’ accounts. Users are advised to check their account statements in a few days to verify that the correct amount was charged according to their contracts. If any discrepancies are found, they should contact their bank’s customer service immediately.

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BREAKING: Euro/forint exchange surpasses 400

forint euro bills

The forint traded at 398.68 to the euro around 10:00 in the morning on Wednesday, softening from 398.08 late Tuesday. At 1 PM on Wednesday, the exchange rate was even closer to 400, hovering over 399.43.

According to Portfolio, current trends suggest it’s only a matter of time before the EUR/HUF exchange rate exceeds the critical psychological threshold of 400. The Hungarian currency has weakened by more than 5 units against the euro in just one week, causing the EUR/HUF rate to rise to levels not seen since early August, approaching 400.

The article also highlights a shift in the dollar-forint exchange rate, which could place further pressure on Hungary’s currency in the coming days.

Economists predict that the euro could soon surpass HUF 400.

On Wednesday morning, the forint slipped to 360.23 from 359.73 against the dollar. It weakened to 426.05 from 425.31 to the Swiss franc

UPDATE: EUR/HUF reaches 400

The Hungarian currency has fallen, with the euro above 400 forints at 3.18 PM on Wednesday. The exchange rate hasn’t been this weak since March, and according to Economx, there is no rationale for a forint rise now.

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Orbán cabinet admits to using misleading tactics to secure EU funds

eu funding agriculture water money

In a podcast, former Hungarian President Áder János and Agriculture Minister István Nagy revealed Hungary’s tactics for securing EU funds for climate adaptation, repurposing them for irrigation.

Hungary’s water crisis

While Hungary battles severe flooding in the Danube Valley, much of the country still suffers from drought, Telex writes. The government has long promoted the need to store more water, but progress remains slow. Agriculture, being heavily affected by drought, was a focal point of Áder’s interview with Nagy. Following his presidency, Áder turned to environmental advocacy through his Kék Bolygó Foundation (Blue Planet Foundation). In the podcast, he and Nagy discussed recent floods and then shifted the conversation to drought management.

EU funding: irrigation challenges

Nagy mentioned that the EU does not support irrigation projects financially. When Hungary applied for EUR 1 billion under the EU’s long-term budget, the request was rejected due to a rule protecting drinking water sources.

Áder highlighted that irrigation could be developed using retained or surface water, rather than drinking water. Nagy explained that Hungary adjusted its approach, no longer referring to “irrigation” but to an “ecological water replenishment system.” Áder humorously suggested that the term “biodiversity” works well with EU institutions. This change in terminology helped Hungary secure funds from the Environmental and Energy Efficiency Operational Program Plus (Környezeti és Energiahatékonysági Operatív Program Plusz, Kehop).

Kehop wasn’t designed for irrigation projects but for climate adaptation and water conservation. Although water storage for irrigation can have ecological benefits, it’s a stretch to align it with Kehop’s objectives. However, other funds, like the Common Agricultural Policy (Közös Agrárpolitika, KAP), do support irrigation. In July, Nagy announced that over 1,200 irrigation projects had received EU funding through the Ministry of Agriculture.

Blurring the lines between goals

Some projects, such as water replenishment plans for areas like Homokhátság and Nyírség, mix ecological goals with economic ones. Áder and Nagy demonstrated how infrastructure projects can be framed as environmentally friendly, even when they don’t strictly align with climate adaptation.

This shift in terminology isn’t new. A 2019 law on irrigation communities now refers to them as sustainable water management communities. While the change in language signals a shift towards sustainability, it doesn’t guarantee that irrigation projects are truly environmentally sustainable. Hungary’s Recovery and Resilience Plan also reframed irrigation systems as water replenishment systems in later drafts.

Conclusion

Despite these efforts, not all “greenwashed” projects pass EU scrutiny. As one source of Telex noted, “None of the projects labelled as green under the Recovery and Resilience Facility passed the EU’s approval, causing a significant loss of EU funding for Hungary’s water management sector”.

The Ministry of Agriculture has yet to respond to inquiries about the podcast remarks and whether such tactics may be harmful to genuine environmental efforts.

Find the interview below (unfortunately, there are no English subtitles):

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Wizz Air expands payment options and adjusts plans for Saudi expansion

jeddah saudi arabia

Wizz Air, a prominent Hungarian low-cost airline, has introduced new payment options in its mobile apps, allowing passengers to use Google Pay and Apple Pay for their transactions. These mobile wallet features, now available on both Android and iOS platforms, aim to streamline the booking process, especially for last-minute travellers and those purchasing additional services shortly before departure. The airline noted that over 30% of passengers typically add extra services after booking, with nearly half opting to do so through the mobile app. This enhancement is expected to offer passengers faster and more secure ways to pay for both tickets and services, such as seat selection and baggage.

In addition to this payment upgrade, Wizz Air now accepts Revolut bank cards onboard its flights (as we detailed HERE), further expanding the range of payment options available to customers, AIRportal.hu reports. This move is part of a broader effort to enhance convenience and meet the evolving expectations of travellers.

Change in Wizz Air’s Saudi expansion plans

wizz air 2023 multipass
Photo: depositphotos.com

Despite these positive developments, the airline recently announced a significant shift in its expansion plans in Saudi Arabia, according to another article by AIRportal.hu. Wizz Air has decided to abandon its initial proposal to establish a 50-aircraft joint venture in the Kingdom.

This project, which was first outlined in a 2022 agreement with the Saudi government, would have involved the creation of a local subsidiary to bolster operations in the region. However, instead of proceeding with this venture, the airline will focus on growing its presence in Saudi Arabia as a destination market, launching additional routes from European hubs.

One key part of this strategy involves the use of the long-range Airbus A321XLR aircraft, which will allow Wizz Air to serve more distant destinations. The first of these planes is expected to begin operating between London-Gatwick and Jeddah in March 2025. However, the airline’s subsidiary, Wizz Air Abu Dhabi, has delayed the launch of this aircraft type until 2026, citing the need to wait for the new Pratt & Whitney GTF Advantage engines, which are better suited to the hot and dusty climate of the region.

Wizz Air’s CEO, József Váradi, recently commented on these developments during an interview with Reuters. He explained that the decision to pause the Saudi joint venture was a strategic one, allowing the airline to focus on the growing demand for travel to Saudi Arabia. He also addressed the company’s financial challenges, noting that Wizz Air’s stock price has dropped by 42% over the past year. Váradi believes this decline is an overreaction to external factors such as geopolitical issues and the engine supply chain problems affecting many airlines worldwide.

New bonus package for CEO Váradi

In a related development, as we reported before, Wizz Air is set to introduce a new bonus package for its CEO. According to reports from HVG, Váradi is expected to receive a one-time stock award worth around GBP 700,000 on 1 October, which is three times his annual salary.

This package comes as part of a broader long-term incentive plan designed to motivate leadership through the company’s recovery from recent global challenges, including the COVID-19 pandemic and geopolitical disruptions. Last year, shareholders approved a two-year extension of Váradi’s long-term bonus plan, which gives him the potential to earn up to GBP 100 million if the airline’s stock price increases fivefold to GBP 120 by the extended deadline. The upcoming stock bonus would count towards this total.

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European loan to fund Hungary’s ambitious railway modernisation efforts

travel in Hungary train MÁV station train in Hungary railway

The Hungarian government has formally applied for a loan from the European Investment Bank (EIB) to support its railway renovation efforts, Minister of Construction and Transport János Lázár announced via Facebook. The requested funds will cover half of the HUF 800 billion (EUR 2 billion) infrastructure development program, with the government financing the other half. This initiative is part of a broader HUF 1.2 trillion (EUR 3 billion), 10-year plan aimed at comprehensively modernising Hungary’s rail transport system.

Another huge loan to be taken out by the Hungarian government

According to Telex, Lázár explained that in the first phase of the project, 119 kilometres of railway tracks would be cleared of speed restrictions, while another 490 kilometres would be upgraded with cutting-edge central traffic control systems. He emphasised that these improvements will enhance the safety and reliability of rail travel across the country, reducing both travel times and delays.

Recent railway accidents have added urgency to these developments. One notable incident involved the derailment of the Claudiopolis InterCity near Keleti Station in Budapest, which disrupted services for days. Though no one was injured, the derailment highlighted the pressing need for infrastructure improvements. According to initial investigations by the Ministry’s Transportation Safety Organisation, broken bolts caused the accident.

Hungarian railways in critical condition

These events have sparked renewed public debate over the condition of Hungary’s railways. Lázár acknowledged that rail transport has long been a problematic area, but the government has a concrete plan to address the issues. In August, the minister unveiled a five-point action plan that includes securing a EUR 1 billion loan for railway construction, purchasing decommissioned Western trains, overhauling several stations, and replacing MÁV’s leadership.

Lázár also commented on the financial challenges posed by the EU’s withholding of funds earmarked for Hungary. “The delay in EU payments has hit the railway sector particularly hard,” he noted. “Until the EU fulfils its obligations, we must secure alternative funding sources. National funds are already in place, and once the EIB approves the loan, we will begin work immediately.”

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2nd biggest Hungarian bank cooperates with Bank of China, inflation falls in Hungary

MBH Bank CEO Zsolt Barna

MBH Bank, Hungary’s second-biggest commercial lender, and Bank of China Limited Hungary Branch have signed a memorandum of understanding on cooperation, MBH said on Thursday.

With the MoU, the sides aim to establish stable, long-term business ties that are mutually beneficial, MBH said. The MoU extends to bolstering interbank activity, especially with regard to bilateral financing constructions, offering a broader range of financial services to their client bases, and looking for areas in which synergies could result in new business opportunities.

Bank of China Limited Hungary Branch was established in 2014. The lender had total assets of over HUF 2,254bn at the end of 2023.

NBH sees inflation slowing further in September

August’s 3.4pc CPI was in line with the National Bank of Hungary’s expectations, and the central bank sees inflation falling to 3.1pc in September, András Balatoni, an NBH director, said on Thursday. Presenting the NBH’s fresh quarterly Inflation Report, Balatoni said CPI would rise moderately for the rest of the year, edging over 4.0pc in December. The NBH puts 2024 average annual inflation at 3.5pc-3.9pc in the fresh report, compared to 3.0pc-4.5pc in the one published in June.

Balatoni said disinflation would continue in the first quarter of 2025, supported by a lower external cost environment and lower retrospective repricing. The effect of retrospective pricing of services will wind down, while core inflation could start to fall in the second half of the year, bringing CPI back to the central bank’s 3.0pc +/-1pp tolerance band in a sustainable manner, he added.

The NBH estimates that the financial transactions duty will lift average annual inflation by 0.1pp in 2024 and 0.2pp-0.3pp in 2025, he said. The NBH knocked down its forecast for 2024 GDP growth to 1.0pc-1.8pc from 2.0pc-3.0pc, as low order stock in the industrial sector and drought in the farming sector weigh. On the consumption side, household consumption and net exports are seen supporting growth, while investments weigh.

The re-launch of earlier postponed investments and improved external demand could result in more balanced growth in 2025, lifting GDP growth to 2.7-3.7pc. GDP growth could reach 3.5-4.5pc in 2026.

Balatoni noted that employment was at a historic high, but labour market tightness was easing as businesses tapped unused capacity and drew on labour market reserves. The NBH reduced its forecast for this year’s general government deficit to 3.5pc-4.5pc of GDP, from 4.5pc-5.0pc, on spending cuts announced in the summer. It sees a 0.3pp decline in the year-end state debt level.

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Morgan Stanley predicts euro could reach 410 forints amid worsening economic outlook

forint euro exchange rate money huf eur eurozone

Morgan Stanley has forecasted a difficult period ahead for Hungary’s currency, suggesting the euro-to-forint exchange rate could rise as high as HUF 410.

Morgan Stanley advises to short the forint

According to Economx, the American financial institution pointed to increasing risks in Hungary’s economy and advised its clients to short the forint. According to their analysts, the target exchange rate is 410 forints to the euro, which they believe is within reach.

Their rationale for this projection is based on the growing concerns regarding both Hungary’s fiscal and monetary policies. While it’s unclear when this trading recommendation was communicated to clients, it’s worth noting that on Monday, the forint performed poorly, weakening from HUF 393 per euro in the morning to HUF 394.8 by the afternoon.

Reasons behind the forint’s weakening

forint euro exchange rate money huf eur eurozone
Photo: depositphotos.com

Several factors are contributing to the forint’s weakening, including the anticipation of a 25-basis-point interest rate cut by the National Bank of Hungary, expected on Tuesday. The analysts provided few details in their recommendation, merely citing Hungary’s deteriorating macroeconomic environment.

Morgan Stanley isn’t the only bank voicing concerns over the forint—Barclays and Citigroup have issued similarly bleak outlooks for the currency recently, Economx writes. In the short term, Morgan Stanley sees little chance of the European Union releasing Hungary’s frozen funds, and they also flagged uncertainties surrounding the next elections. However, these points aren’t particularly convincing or new, adding little to the overall analysis.

Public spending increase before the 2026 elections?

The report also highlighted that the forint has been under pressure since early September, following rumours that the Hungarian government plans to relax its fiscal discipline in the 18 months leading up to the 2026 parliamentary elections by increasing public spending. Finance Minister Mihály Varga, however, has dismissed these claims as unfounded: as Economx writes in another article, according to a U.S. financial news agency, the Hungarian government is planning substantial cash handouts next year, which Varga has labelled as “fake news.”

In preparation for the 2026 elections, the government is expected to prioritise spending over fiscal consolidation, Bloomberg reported. However, the administration may hold off on any major decisions until after the U.S. presidential election in November, as well as the year-end credit rating review, where Hungary currently sits at the lowest investment-grade level.

The report suggested that the pre-election spending plans could resemble the strategy from 2022. Back then, tax rebates to families with children significantly fueled inflation, leading to one of the highest inflation rates in the European Union, triggering a recession and contributing to the ongoing cost-of-living crisis in Hungary. According to Index, Prime Minister Viktor Orbán supports the spending approach, believing it will secure another electoral victory, just as it did in 2022.

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Featured image: depositphotos.com

Major cuts announced in Orbán’s 130-point austerity plan

Sovereignty Protection Research Institute Orbán government

In a significant financial shift, the Orbán government has decided to scrap or drastically reduce funding for a wide range of projects, including plans for a new Student City, improvements to the Budapest-Belgrade railway, ambulance procurement, and even the renovation of the iconic Chain Bridge.

A 130-point austerity decree

The government issued a 130-point decree in the Hungarian Gazette, bearing Prime Minister Viktor Orbán’s signature, outlining various cost-saving measures that will affect multiple sectors. The cuts primarily involve halting or scaling back additional state support for major ongoing projects, Népszava reports. A recurring phrase throughout the decree, “No further central budget funding is required,” clearly signals the government’s intention to tighten the purse strings. Some initiatives have been scrapped altogether, while others will receive significantly less funding than initially planned.

Student City, Chain Bridge, Opera House affected

Opera-House-Budapest classical culture
Orbán’s planned austerity measures affect the Hungarian State Opera House as well. Photo: FB

Among the affected projects is the Student City development in Budapest, where the government has decided against allocating more funds to acquire the necessary properties.

The historic Chain Bridge and the Buda Castle Tunnel are also losing out, with no more financial support for their reconstruction or the surrounding public areas.

The Hungarian State Opera House, led by Szilveszter Ókovács, is another casualty, with its operational funding also being slashed.

Cuts have extended to Hungary’s cultural memory initiatives as well. The government’s previous commitment to open the House of Fates Holocaust Memorial for Child Victims has been revoked, as has funding for the Museum of the Victims of Communism. Even projects related to genealogical research and family history have seen their budgets shrink.

Bad news for MÁV, medical research and clinical trials

Travel time from this Hungarian city to Serbia will be much higher than promised (Copy)
Photo: MÁV/FB

For Hungary’s national railways (MÁV), the decree brings more bad news. A previous decision to fund the assessment of non-essential railway land has now been reversed. Transportation projects in the Városliget area have also been halted, with no further investments planned for the region.

The healthcare sector hasn’t been spared either. The government has shelved its Health Industry Strategy and withdrawn funds earmarked for medical research and clinical trials. Ambulance procurement and local production of ambulances will see major cuts as well, with the government now canceling a previous allocation of over HUF 2.2 billion (EUR 5.6 million).

These are just a few highlights from Orbán’s 130-point decree, which affects numerous sectors with austerity measures aimed at reducing the government’s financial commitments.

Opposition DK calls on govt to abandon ‘austerity‘

The opposition Democratic Coalition (DK) has accused the government of planning to usher in an “austerity package” containing 130 measures. At an online press briefing on Saturday, DK lawmaker László Varjú demanded its withdrawal and charged the government with “entering a spiral of austerity”. “Just as the country is on the point of defending itself, the Orban government is attacking it, stripping families of money and opportunities”.

He accused the government of plotting to prevent local authorities from buying ambulances, to withdraw funding for renovating village byways, and to take away financing from Budapest just when it is fighting the current flood wave. Varjú  insisted that more than 4 billion forints was being ploughed into religious education. “So the money’s there, but it isn’t being used for the right purposes,” he said.

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Hungarian government to reshape minimum wage: Major changes by 2027

forint money currency Hungarian wages minimum wage

The Hungarian government is considering significant amendments to wage policies that could drastically alter the country’s minimum wage system, according to insider information obtained by Index. Although no formal agreement has been reached, two key regulatory changes are expected. These could potentially increase the minimum wage to 50% of the average wage by 2027. The National Economy Minister, Márton Nagy, had previously hinted at such a plan, and it now appears to be taking shape.

According to Index, negotiations are ongoing regarding next year’s minimum wage and the guaranteed wage minimum, but specific figures have yet to emerge from either employers or employees. Officially, about one million workers currently earn either the minimum or guaranteed wage in Hungary.

Hungary ahead of regional neighbours concerning effective minimum wage

In recent comments, Márton Nagy addressed concerns that Hungary ranks near the bottom of the European Union’s minimum wage rankings, emphasising that this comparison fails to account for the country’s unique wage system. Unlike other EU countries, Hungary also has a guaranteed wage minimum, which he claims offers a more accurate picture when combined with the standard minimum wage. According to Nagy, Hungary’s effective minimum wage is HUF 306,000 (EUR 777), placing the country 17th in the EU, ahead of regional neighbours like the Czech Republic, Slovakia, Romania, and Bulgaria.

Despite these relatively favourable standings, Nagy pointed out the need to narrow the gap between the minimum and average wages.

The government plans to raise the minimum wage to 50% of the average wage, with adjustments occurring in stages, and aims to achieve this goal by 2027.

Future of guaranteed wage minimum not yet clear

The rationale is to help low-income workers get closer to the national average, underlining the increasing importance of wage policy within broader economic discussions. Index reports that current talks have stalled due to disagreements over the future role of the guaranteed wage minimum. The government is weighing whether sectoral wage agreements could potentially take over this role, but for now, no comprehensive legislative overhaul is expected.

One significant change that could come soon is a government decree making the Versenyszféra és a Kormány Állandó Konzultációs Fóruma (Permanent Consultation Forum of the Competitive Sector and Government) the official body responsible for determining future minimum and guaranteed wages. Previously, this body played an advisory role, but it may soon have a formal mandate. Additionally, from 2025 onward, the minimum wage will be adjusted in relation to 50% of the average gross wage.

Both employers and employees are reportedly pushing for a long-term wage agreement, possibly covering a three-year period. The timeline for starting negotiations could become more structured, with the gross average wage of the four previous quarters serving as a reference point for minimum wage discussions. However, flexibility will remain a key feature of the negotiations, allowing adjustments based on macroeconomic data. Both sides agree that wage increases should not lead to job losses, and any agreement must also account for social considerations, especially for the lowest earners.

Hungary on the verge of an economic upturn?

Higher wages not only impact individual consumption but also force companies to become more efficient and invest in development to maintain profits. This high-pressure economic approach has been a hallmark of recent Orbán governments, and Prime Minister Viktor Orbán recently stated that Hungary is on the verge of an economic upturn. Significant wage hikes, alongside investment-driven growth, are seen as central to this recovery.

As the wage negotiations continue, the Hungarian Central Statistical Office (KSH) reported that, as of June 2024, the gross average wage for full-time employees was HUF 642,000 (EUR 1,633), while the net average wage stood at HUF 442,000 (EUR 1,124). These figures mark a year-over-year increase of over 13%, and the rise in real wages has also been significant.

Ultimately, the minimum wage has a broader influence on the economy, affecting both the low-wage workforce and other wage categories. A substantial rise in the minimum wage could help reduce wage inequality, and in some cases, encourage the formalisation of wages, curbing the practice of under-the-table payments.

12% potential wage increase expected

Market expectations suggest a potential wage increase of around 12%, in line with government projections. While attention often focuses on the minimum wage, the guaranteed wage minimum is even more crucial, impacting a much larger segment of the workforce and playing a vital role in shaping Hungary’s overall wage structure.

As Hungary seeks to close the wage gap with its European neighbours, the success of these wage policy changes will be critical to retaining workers and ensuring sustainable economic growth. However, experts warn that setting the minimum wage either too high or too low could have negative consequences, making a balanced and thoughtful approach essential.

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Featured image: depositphotos.com

Putin’s minister comes to Budapest, does Hungary want to borrow money from Central Asian states?

Putin's minister in Budapest

Putin’s minister responsible for healthcare issues will meet with Foreign Minister Péter Szijjártó today in Budapest. Reuters was surprised to hear about the visit since Western visits of Russian ministers are a rarity after the Russian invasion of Ukraine. Meanwhile, Finance Minister Mihály Varga hosted the President of the Turkic Investment Fund in Budapest. Will Hungary borrow more money from Eastern states?

Odd move: Putin’s minister in Budapest

According to portfolio.hu, Russian healthcare minister Mikhail Murashko will arrive in Budapest today to conduct negotiations with Foreign Minister Péter Szijjártó. This is not the first time he has visited Hungary after the beginning of the Russian invasion of Ukraine. Mr Murashko was here in July 2023 as the first member of the Russian government to pay an official visit to a NATO member.

Then, Péter Szijjártó said that Hungary would maintain relationships with Russia because that is the national interest. Szijjártó added that Russia was a trustworthy gas deliverer and Hungary needed Moscow for the country’s energy safety.

Reuters, reporting about the second Murashko visit, highlighted it was unfamiliar that one of Putin’s ministers visits an EU or NATO member state. Based on the relevant statement, Szijjártó and Murashko will talk at a Russian-Hungarian business forum today in Budapest. However, they did not share any further details.

Orbán in Moscow Putin's minister in Budapest
Putin and Orbán in Moscow in July. Another move that surprised both Washington and Brussels. Photo: FB/Orbán

UPDATE: Europe does business with Russians in secret, FM Szijjártó wrote

The Russia-Hungary Economic Cooperation Committee already started its session in Budapest. Szijjártó shared a post on his official Facebook page writing that 78 companies participate in the forum and they would continue to develop Russian-Hungarian cooperation in all areas not affected by the Brussels sanctions. He added that the entire Europe did business with Russia, but they tried to keep it secret.
Putin's minister in Budapest
Photo: FB/Szijjártó

 

Will a new Eastern loan rescue Hungary’s economy?

Finance Minister Mihály Varga met with Baghdad Amreyev, the president of the Turkic Investment Fund, in his office in Budapest on Thursday, his ministry said. After the meeting, Varga noted that Hungary had broken with unilateral economic policy 15 years earlier when it announced its Eastern Opening policy. Hungary’s policy of economic neutrality has made it an “outstanding” exporter, relative to its size, while it boasts a high investment rate and a competitive tax system, he added.

Turkic Investment Fund Finance Minister Mihály Varga Putin's minister in Budapest
Hungary has become a member of the Turkic Investment Fund in July. Photo: FB/Mihály Varga

He said Hungary’s ties with the Organisation of Turkic States (OTS) were growing stronger, adding that bilateral trade with OTS members now exceeded USD 5bn. Those strong ties can be developed further in the areas of energy, water management, farming and education, he added.

Chinese loan to be spent on modernisation

Hungary quietly took out a EUR 1 billion loan from China in July. Later, it became clear that the Orbán cabinet would like to spend that money on the installation of electric vehicle charging stations in rural areas. The Hungarian government regularly states that they would not take sides in the escalating East-West conflict despite our NATO and EU membership. Instead, they would like to be a bridge connecting the two camps. Since Hungary struggles to get EU funds due to rule-of-law concerns and infringement procedures, the budget needs other sources to back investments. Because of the falling consumption, the budget balance broke this year, so the Orbán cabinet is happy to receive any alternative financial help to fill the budgetary holes. And the EU recovery and most of the development funds are still out of reach.

Read also:

  • Hungary targets foreign retailers: Government aims to curb Temu’s market domination – read more HERE
  • Orbán against the EU? Hungarian PM: economic neutrality is in Hungary’s interest, not the blocs – more details HERE

Featured image: the Orbán-Putin summit, an episode of Orbán’s so-called ‘peace mission’ at the beginning of Hungary’s EU presidency, in July in Moscow.

VSquare: Hungary acts as middleman for China’s EUR 500 million loan to Orbán’s Balkan allies

viktor orbán italy

In July this year, Hungary announced a EUR 500 million loan to North Macedonia, a country now led by the nationalist VMRO-DPMNE party, which is closely aligned with Hungarian Prime Minister Viktor Orbán.

According to VSquare, this deal may be linked to the EUR 1 billion loan that the Orbán government secured from China earlier in 2024. Several diplomatic sources informed the outlet that Hungary is essentially acting as a mediator for China, channelling Chinese funds to support North Macedonia.

The article cites a North Macedonian expert who noted that Hristijan Mickoski, leader of VMRO-DPMNE, had mentioned plans to secure a EUR 1 billion loan for strategic projects on the day of his election.

However, Mickoski quickly denied that the funds would come from Russia or China, instead claiming that a European country would provide the loan.

Hristijan Mickoski North Macedonian PM
Photo: Facebook/Hristijan Mickoski

Despite this, rumors surfaced that the money would, in fact, originate from China, but would be funneled through Serbia or Hungary. Later, Mickoski revised the loan amount to EUR 500 million.

VSquare reports that Hungary’s involvement in this transaction has raised eyebrows, especially considering that the Orbán government is grappling with its own financial challenges.

“What makes the story even more mysterious is that, according to an internationally connected business source, Hungary originally hoped to secure a much bigger loan during Xi Jinping’s visit to Budapest as a substitute for the country’s frozen EU funds,” Szabolcs Panyi, writer of the article, concludes.

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Temporary relief: inflation in Hungary eased in August

food store spar price inflation in hungary

In August, Hungary saw a temporary easing in inflation, with the rate falling to 3.7% from 4.1% in July. However, this data does not account for the impact of the summer drought on prices, and analysts suggest that the effects on the Hungarian economy will only become evident in the autumn.

According to economists consulted by Portfolio, domestic inflation may have decreased to 3.7% in August, down from 4.1% the previous month. Analysts attribute this decline primarily to base effects. However, they expect inflation to gradually increase towards the end of the year, with many predicting it could exceed 5%.

“The inflation rollercoaster may have continued in the last month of the summer: after a significant rise in July, we are now seeing a greater moderation,” said Péter Virovácz, a senior analyst at ING Bank. He noted that several specific factors contributing to the July spike in inflation are unlikely to be present in the August data. For example, food prices rose in July due to the introduction of price caps and the end of compulsory shop sales, Világgazdaság reports.

Fuel prices also fell in the first twenty days of August, which likely played a significant role in curbing one-month inflation. Virovácz does not foresee another substantial rise in food prices like the one in July, suggesting that inflationary pressures from this sector may be lower.

Additionally, the global decline in consumer durable prices, along with the relative stability and slight strengthening of the forint, indicates that price changes in this category could have been slightly negative each month.

Gábor Regős, Chief Economist at Granit Fund Management, stated that while fuel prices have minimally reduced inflation compared to their positive contribution in the previous month, the main concern remains the rise in service prices. Although monthly repricing was more moderate than in July, it continues to be the most significant factor driving up the overall price level. Regős expects consumer prices to have increased by 0.2% on a monthly basis, with last year’s high base potentially causing the annual index to fall from 4.1% to 3.6%.

Some analysts believe that weak demand may already be restraining inflation in services. Zsolt Becsey, Chief Economist at MNB, noted that the significant price increases in services seen in the spring did not trigger a new wave of inflation over the summer. Regős pointed out that second-quarter GDP data showed that expanding demand for services played a large role in boosting consumption, with service sectors capitalising on this demand.

Analysts warn inflation could rise again

forint money currency Hungarian wages inflation
Source: depositphotos.com

Dániel Molnár, Senior Analyst at the Macronome Institute, noted that food prices may have stagnated in August but could rise slightly in the coming months due to weaker agricultural production and increased import demand. He forecasts that inflation may have returned to the central bank’s tolerance band at a rate of 3.6% in August, with a 0.2% increase in consumer prices on a monthly basis.

According to Világgazdaság, inflation is expected to remain within the tolerance band in September, accelerate temporarily from October due to base effects, and approach 5% by the end of the year. It is projected to start decreasing again from early next year, reaching the inflation target by the summer of 2025. Zsolt Becsey also emphasised that despite the spring price hikes in services, demand remains weak, limiting businesses’ ability to raise prices further.

Read also:

  • Did Orbán accidentally reveal the new Governor of the National Bank of Hungary? – Read here
  • Orbán cabinet acknowledges that food prices skyrocketed in Hungary – investigation begins – Read here

 

Hungarian motorway vignette prices increase from 2025!

Motorways vignette Hungary (Copy)

The National Toll Payment Services Plc (NÚSZ) shared the official motorway vignette prices for 2025 in an announcement. According to the rule, the price increase rate follows January-August inflation.

Tolls in the e-vignette system are regulated in Decree 45/2020. (XI. 28.) of the Minister for Innovation and Technology on motorways, speedways and main roads subject to toll payment, NÚSZ said.

Foreigners buy expensive Hungarian motorway vignette
Photo: FB/NÚSZ

According to this decree, tolls in the e-vignette system valid as of 1 January 2025:

E-vignette vehicle category

National

Regional

Daily

Weekly (10-day)

Monthly

Annual

Annual

D1M*

HUF 2 660

HUF 3 310

HUF 5 360

HUF 59 210

HUF 6 890

D1

HUF 5 320

HUF 6 620

HUF 10 710

HUF 59 210

HUF 6 890

D2

HUF 7 560

HUF 9 630

HUF 15 170

HUF 84 040

HUF 13 780

U

HUF 5 320

HUF 6 620

HUF 10 710

HUF 59 210

HUF 6 890

The e-vignette rates are valid from 01.01.2025. All rates shown in the table are inclusive of VAT.

*Annual national and regional e-vignettes for motorcycles are available as vehicle category D1 products.­­­­

The surcharge rates applicable from 1 January 2025

Based on Decree 45/2020 (XI. 28.), the surcharge rates applicable from 1 January 2025 are set out as the following:

  • Base surcharge (if paid within 60 days): HUF 26 640

  • Increased surcharge (if paid beyond 60 days): HUF 91 780

The surcharge difference rates applicable from 1 January 2025

Based on Decree 45/2020 (XI. 28.), the surcharge difference rates applicable from 1 January 2025 are set out as the following:

  • Differential surcharge (if paid within 60 days): HUF 14 900

  • Differential surcharge (if paid beyond 60 days): HUF 47 180

Comparing the 2025 prices with the 2024 ones, we can state that the rise Will be 3.4%. Concerning the 10-day D1 vignette, we Will have to pay HUF 6,620 (EUR 16.7) instead of HUF 6,400. The annual price will grow from HUF 57,260 to HUF 59,210. The annual regional vignette for motorways in Hungary will cost HUF 6,890 (EUR 17.4) instead of HUF 6,600.

M7-es_autópálya-highway motorway vignette motorway concession
M7 motorway from Lake Balaton to Budapest. Travelling on highways will be more expensive. Source: Wikimedia Commons

The surcharge increase rate will be the same. From 1 January, 2025, you will have to pay HUF 26,640 (EUR 67.3) (if paid within 60 days) and HUF 91,780 (EUR 231.8).

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